After my gripes I will reproduce the post on p2p no bank post in entirety… 

1. User must sign up in the same session…  Amazon, EBay, Prosper, and many many more affiliate programs have a cookie that lasts 30 days.
2. Any page of the lending club website (including the blog if I am wishing) should be linkable with a referral query parameter.  This makes any content produced by lending club a potential hook for an affiliate.

That being said the clarifications are awesome…  I really like knowing what the deal is…  Stay tuned for my tomorrow’s post on how RateLadder would change lending on Lending Club.

Here is the forum post from Rob @ LC the Web Production, Director (here is a link):

Hi everyone!

Thanks for your comments and questions.   And apologies for the long post, but I wanted to address all the comments at once:

QUESTION 1. What are the terms of the program?

The referral program was initially introduced back in July as a $5 prize for any friend who joined.  We quietly revamped it on Oct 25 to increase the prize to $25 for any friend who became a borrower OR lender.   This was a test to see how users will receive it, and we noticed users liked this idea better.   Today, we officially launched the program and the rules are:

When you refer friends to Lending Club and they become borrowers or lenders, we will deposit a bonus into both your and your friend’s accounts:

• $25 when your friend successfully submits a loan application
• $25 when your friend opens a lender account with $1-$999
• $50 when your friend opens a lender account with $1,000 or more

QUESTION 2. Can I use the URL?   

Absolutely!  In fact, I was very excited to see some of you discovered this even before we announced it.  Basically, the URL in the email can be reused to post on your sites.  The URL is generalized as I mentioned in my new features post today.  Just make sure it has your Lending Club screen name as the referrer.   

In a couple of weeks, we will be offering small images you can also add to your blogs or personal pages.   

QUESTION 3. Can I point my referrals to a different page?

Yes.  You can use 2 different links.

LINK 1: http://www.lendingclub.com/landing.action?referrer=ScreenName
This one drops referrals on our home page, and if the user creates an account within the same session, you get the bonus.  Use this for friends that still may need to read more on the concept before signing up:

LINK 2: http://www.lendingclub.com/refer.action?referrer=ScreenName
This one drops referrals on the sign-up form.  Use this for friends you think are ready to sign. 

QUESTION 4. Are the terms different depending on which URL the user took?

No.  The terms I mentioned in Question 1 are valid whether the referred person came through from the invite friends email, or any of the 2 links above, which you can post on your site or blogs.

QUESTION 5. Does the referred user have to sign up immediately or is the referral stored?

The information is stored in the session, so the referred user has to sign up while in the session.  Information is not saved in our back end or a cookie.   The session will “expire” if the user closes the browser.  This means that if the user closes the window, and comes back next day to sign-up, and types up “lendingclub.com”, the system will not recognize the referral. 

QUESTION 6. Why do you have 2 links in the email?

This is an issue.  The second link is supposed to land users on the home page but still remember the referral in the session.   Thanks for catching this.  This was completely unintended and I will follow up with the tech team to correct as soon as possible.

Let me know if I missed any of your comments.

Best regards

Rob Garcia
Web Production, Director
Lending Club

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